BlackRock has launched tokenized share classes for several of its European money market funds in the Institutional Cash Series range, covering a combined AUM of 311 billion dollars and available in 15 markets including France, Germany, Ireland, Luxembourg and the United Kingdom. The infrastructure is based on J.P. Morgan’s Kinexys platform with tokens issued on the Ethereum blockchain enabling peer-to-peer transfers between institutional wallets. Separately, BlackRock filed form N-1A with the SEC for a new vehicle called BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, invested 100 % in cash, US Treasury bills with maturity under 93 days and overnight repo operations. The asset manager has set a target of 500 million dollars in revenue from crypto and tokenization by 2030, with Larry Fink stating he is « very optimistic » about the sector.
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